Wealth Distribution in the US – Interesting New Data

Interesting piece from Bloomberg’s Noah Smith:

https://www.bloomberg.com/view/articles/2018-08-08/many-americans-still-feel-the-sting-of-lost-wealth

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Upward Mobility in the US
Robert Samuelson summarizes recent research on upward mobility in the US:

https://www.washingtonpost.com/opinions/upward-mobility-is-a-myth/2018/08/05/bb960ce4-972c-11e8-80e1-00e80e1fdf43_story.html

“About 90 percent of children born in 1940 ultimately exceeded their parents’ incomes. That is, almost everybody. This makes sense; the babies born in 1940 were affected by both the 1930s’ Great Depression (which reduced incomes) and the post-World War II economic boom (which raised incomes). However, for children born in 1970, only 61 percent earned more than their parents, and for those born in 1980, only 50 percent did.”